X @Wu Blockchain

Market Sentiment - Arthur Hayes views Monad as a "high-FDV, low-float" trap created by VCs [1] - Hayes initially set a $10 target for MON, but later turned bearish, predicting it will go to zero [2] - Hayes believes that most L1 blockchains, except Ethereum and Solana, will eventually become worthless [2] Competitive Analysis - Hayes argues Monad cannot compete with Ethereum and is weaker than Solana [2] - Monad's "next-gen ETH killer" narrative is considered a scheme for founders and backers to profit [2]